Objective Capital Management LLC Invests $210,000 in Visa Inc. (NYSE:V)

Objective Capital Management LLC purchased a new position in Visa Inc. (NYSE:V) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 764 shares of the credit-card processor’s stock, valued at approximately $210,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. KMG Fiduciary Partners LLC grew its position in shares of Visa by 0.3% during the 3rd quarter. KMG Fiduciary Partners LLC now owns 13,933 shares of the credit-card processor’s stock worth $3,831,000 after buying an additional 37 shares in the last quarter. Iron Horse Wealth Management LLC grew its holdings in Visa by 15.9% during the 3rd quarter. Iron Horse Wealth Management LLC now owns 270 shares of the credit-card processor’s stock worth $74,000 after acquiring an additional 37 shares in the last quarter. Washington Trust Bank increased its position in Visa by 1.1% during the 3rd quarter. Washington Trust Bank now owns 3,258 shares of the credit-card processor’s stock valued at $896,000 after purchasing an additional 37 shares during the period. Tlwm raised its holdings in shares of Visa by 0.7% in the 2nd quarter. Tlwm now owns 5,241 shares of the credit-card processor’s stock valued at $1,376,000 after purchasing an additional 38 shares in the last quarter. Finally, Meridian Financial Partners LLC lifted its position in shares of Visa by 0.5% in the 2nd quarter. Meridian Financial Partners LLC now owns 8,160 shares of the credit-card processor’s stock worth $2,196,000 after purchasing an additional 38 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $148,687.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.19% of the stock is owned by corporate insiders.

Visa Stock Performance

Shares of NYSE V opened at $307.87 on Friday. The company has a 50 day simple moving average of $283.95 and a two-hundred day simple moving average of $274.67. The stock has a market cap of $561.03 billion, a price-to-earnings ratio of 31.64, a PEG ratio of 2.06 and a beta of 0.95. The company has a current ratio of 1.28, a quick ratio of 1.37 and a debt-to-equity ratio of 0.55. Visa Inc. has a 12 month low of $240.97 and a 12 month high of $311.15.

Visa (NYSE:V) last posted its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. The company had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.33 earnings per share. As a group, analysts predict that Visa Inc. will post 11.18 earnings per share for the current year.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.77%. This is a positive change from Visa’s previous quarterly dividend of $0.52. The ex-dividend date is Tuesday, November 12th. Visa’s dividend payout ratio (DPR) is 21.38%.

Analysts Set New Price Targets

Several brokerages recently issued reports on V. Macquarie lifted their price objective on shares of Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Mizuho boosted their price target on Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Barclays upped their price objective on Visa from $319.00 to $347.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Morgan Stanley lifted their target price on Visa from $322.00 to $326.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, Susquehanna increased their price target on shares of Visa from $326.00 to $339.00 and gave the company a “positive” rating in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Visa currently has an average rating of “Moderate Buy” and an average price target of $321.74.

Visa Company Profile

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.